M&A Deal Summary

New Mountain Capital and Endicott Capital Acquire Datassential

On September 13, 2024, private equity firms New Mountain Capital and Endicott Capital acquired information services company Datassential from Spectrum Equity

Acquisition Highlights
  • This is New Mountain Capital’s 4th and Endicott Capital’s 3rd transaction in the Information Services sector.
  • This is New Mountain Capital’s 91st and Endicott Capital’s 7th transaction in the United States.
  • This is New Mountain Capital’s 8th and Endicott Capital’s 1st transaction in Illinois.

M&A Deal Summary

Date 2024-09-13
Target Datassential
Sector Information Services
Buyer(s) New Mountain Capital
Endicott Capital
Sellers(s) Spectrum Equity
Deal Type Secondary Buyout
Advisor(s) Aeris Partners (Financial)
Latham & Watkins (Legal)

Target

Datassential

Chicago, Illinois, United States
Datassential is a provider of data & analytics, sales intelligence, and trend forecasts for the Food & Beverage (F&B) industry. The Company’s core solution provides key menu trends and forecasts, consumer and operator insights, and AI / ML trend forecasts for F&B manufacturers, operators, and distributors / suppliers. Datassential was founded in 1999 and is based in Chicago, Illinois.

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Buyer(S) 2

Buyer

New Mountain Capital

New York, New York, United States

Category Private Equity Firm
Founded 1999
PE ASSETS 55.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

New Mountain Capital is a private investment firm focused on investment in public and private companies in a variety of industries. New Mountain generally invests $100 to $500 million per transaction and looks for businesses with strong market positions and high barriers to entry. New Mountain also prefers businesses that succeed in both good and bad economies. Sectors of interest include education, healthcare, business services, federal IT services, media, software, consumer products, logistics, financial services and technologies, and energy. New Mountain Capital was formed in 1999 and is based in New York, New York.


DEAL STATS #
Overall 96 of 103
Sector: Information Services M&A 4 of 4
Type: Secondary Buyout M&A Deals 37 of 39
State: Illinois M&A 8 of 8
Country: United States M&A 91 of 98
Year: 2024 M&A 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-10 Apixio

San Mateo, California, United States

Apixio is an operator of an AI healthcare analytics company that is developed to a patented analytics platform to improve healthcare delivery through novel insights from medical records and administrative data. Apixio’s computing platform is built upon insights from analyzing more than 6 million patient charts. Apixio was founded in 2009 and is based in San Mateo, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-30 Salute Mission Critical

Franklin, Wisconsin, United States

Salute Mission Critical is an IT Data Center Lifecycle services company that recruits and trains military veterans. The company deploys, manages, and decommissions data center sites with consistently high-quality results. Salute Mission Critical was founded in 2013 and is based in Franklin, Wisconsin.

Buy -
DESCRIPTION

Endicott Group is a private equity firm focused on profitable lower-middle market companies across the US. Endicott Capital invests exclusively in technology-enabled, B2B information services companies. The Firm seeks to make majority or minority investments in businesses with $5 to $50 million in revenue, defensible business models, high barriers to entry, and recurring revenue. Endicott Group was founded in 1996 and is headquartered in New York, New York.


DEAL STATS #
Overall 9 of 9
Sector: Information Services M&A 3 of 3
Type: Secondary Buyout M&A Deals 2 of 2
State: Illinois M&A 1 of 1
Country: United States M&A 7 of 7
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-30 Aosphere

London, United Kingdom

Aosphere is a legal information and technology company that specializes in providing digital subscription-based legal services, focusing on cross-border regulatory compliance, derivatives, data privacy, and market practice analysis. Aosphere was founded in 2002 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-02-27 MANTL

New York, New York, United States

MANTL is a financial technology firm offering omnichannel account origination software for banks and credit unions. MANTL was founded in 2017 and is based in New York City.

Sell $400M

Seller(S) 1

SELLER

Spectrum Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 8.2B USD
Size Mega
Type Sector Focused
DESCRIPTION

Spectrum Equity Management L.P. is a private equity investor focused on service businesses. Spectrum specifically targets established businesses in the media, communications, IT, information, and business services industries. The Firm looks to commit $25 to $150 million of equity capital per transaction and focuses on opportunities throughout North America and Western Europe. Prospective transaction situations include leveraged buyouts, recapitalizations, acquisition financings, and secondary purchases. Spectrum Equity Investors was formed in 1994 and has offices in Boston, Massachusetts and Menlo Park, California.


DEAL STATS #
Overall 73 of 77
Sector: Information Services M&A 7 of 7
Type: Secondary Buyout M&A Deals 8 of 10
State: Illinois M&A 5 of 5
Country: United States M&A 64 of 68
Year: 2024 M&A 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-02 Jimdo

Hamburg, Germany

Jimdo is a provider of cloud-based website creation software, that enables anyone to create a customized online presence with a blog and online store. Jimdo was formed in 2007 and is based in Hamburg, Germany.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-30 Expert Institute

New York, New York, United States

Expert Institute is a technology-driven platform for connecting qualified experts in every field with lawyers looking for technical expertise, consultative support, expert witness testimony, and case-specific guidance. The Company combines a vast database of pre-screened experts with a talented case management team capable of custom recruiting experts to fit the specific needs of our clients. Expert Institute was founded in 2010 and is based in New York City.

Sell -